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Food Ordering Site Expands To Hong Kong

TechCrunch logo TechCrunch 30/04/2014 Catherine Shu

is with a that provides online food ordering and delivery to corporate consumers. The company is backed with an undisclosed amount of venture capital from its lead investor , the VC arm of . said in a statement that it launched in Hong Kong first because it is “one of the world’s most densely populated places with a cultural and business environment that mirrors New York City, where is headquartered.”

It added, “Long working hours, the growing popularity of team lunches, and an increasingly tech-savvy consumer support the need for a central online marketplace where hungry consumers with limited free time can order high-quality delivery, particularly during lunchtime’s peak hours.”

The company claims that many current restaurants make 30% to 40% of their overall business from takeout and delivery, which allows them to make more money without having to increase their brick-and-mortar footprint in high-rent areas.

In Hong Kong, however, will have to face off against several competitors, including , which also caters to corporate clients, and Rocket Internet’s , which has not launched in Hong Kong yet but is for a local office., however, believes that there is still plenty of room for growth in the Hong Kong food delivery market, citing a that says food delivery still account for just 3% of the HKD $65 billion revenue produced by full service restaurants there.

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